Covidien PLC Stock Rating Reaffirmed by Needham & Company (COV)
Covidien PLC (NYSE:COV)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company in a research note issued to investors on Monday, Analyst Ratings.Net reports. They currently have a $69.00 target price on the stock. Needham & Company’s target price suggests a potential upside of 12.54% from the stock’s previous close.
Covidien PLC (NYSE:COV) traded up 1.42% during mid-day trading on Monday, hitting $61.31. The stock had a trading volume of 2,482,408 shares. Covidien PLC has a 52 week low of $47.305 and a 52 week high of $64.10. The stock’s 50-day moving average is $61.52 and its 200-day moving average is $58.97. The company has a market cap of $28.202 billion and a P/E ratio of 16.06.
Covidien PLC (NYSE:COV) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by $0.04. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that Covidien PLC will post $3.71 EPS for the current fiscal year.
A number of other firms have also recently commented on COV. Analysts at Jefferies Group cut their price target on shares of Covidien PLC (NYSE:COV) from $72.00 to $68.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Covidien PLC (NYSE:COV) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 11th. Finally, analysts at Zacks upgraded shares of Covidien PLC (NYSE:COV) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 14th. They now have a $67.00 price target on the stock.
Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $70.36.
Covidien Public Limited Company is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings.
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